ADVERTISEMENT

KSH: Average earnings in Hungary up 5.3% in November

Telco

Average earnings in Hungary were up 5.3% in November in year-on-year terms, at  HUF 264,468, with the salary increase of armed forces and the payment of an additional allowance for those working in social services fields having an impact on earnings growth in November, Hungary’s Central Statistical Office (KSH) reported today.

In November the average net wage was up at the same pace, reaching HUF 173,228, while real wages climbed 4.8% as consumer prices edged up 0.5% in November, KSH said.

Excluding the 171,400 Hungarians in fostered work programs, the average gross wage was up 6.1%, to HUF 279,164, in year-on-year terms in November. Net wages increased at the same rate to HUF 182,854, Hungarian news agency MTI reported, adding that full-time fostered workers earned gross HUF 79,912 on average during the month.

In the period of January-November, average earnings were up by 4.1% in year-on-year terms, while average net earnings, excluding family tax benefits, were HUF 160,800 by national concept.

During the period, the average gross nominal earnings of full-time employees, according to the national concept, amounted to HUF 245,500 at corporations employing at least five persons, as well as budgetary and designated non-profit institutions, KSH data show.

According to KSH, regular earnings increased by 0.2 percentage points in the period in year-on-year terms, less than gross earnings, while wages and salaries according to the SNA concept rose by 4.0%.

ADVERTISEMENT

Czech economic confidence weakens in November Analysis

Czech economic confidence weakens in November

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

New Jewish cultural hub opens in Budapest City

New Jewish cultural hub opens in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.